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The phrase “I have a dream” is immediately identified today with a moment in time: the speech that Dr. Martin Luther King made on the steps of the Lincoln Memorial 50 years ago. The phrase stands for Dr. King’s commitment to freedom and racial justice, his leadership in recognizing minority rights and acting to right a wrong. The phrase is simple but masterful and meaningful. Any child might have said it – and people of all ages often speak of dreams as life goals.

But somehow as I read through parts of Dr. King’s inspiring historical speech, as mundane as this might sound, I also thought of the parallels in business — as every business leader in every small and large organization must also have a dream to assure success.

True, Dr. King’s vision is lofty — advocating policy and cultural changes affecting one of the largest countries in the world. Nevertheless, it is businesses that make this economy work. Perhaps coincidentally, aspects of what Dr. King said apply to business leadership as well.

A vision must be conveyed to inspire employees to make a commitment to growth and the product or service that will carry a company forward. Dr. King’s passion flowed through him, as he spoke, and was felt by his followers. This same passion must also be conveyed by business leaders to all concerned.

Dr. King spoke of coming “together as one American family.” We know that companies that are successful are “one company.” They may have different business units, but ultimately they must unify and cross-pollinate if the drive for oneness is to be realized.

“We have ... come to this hallowed spot to remind America of the fierce urgency of now,” Dr. King said. The world today, he continued, is changing too fast to accommodate “the luxury of cooling off or … the tranquilizing drug of gradualism.” However great the success of today’s product or service, CEO or institution, there is an army of hungry competitors and dissatisfied customers who will do their utmost to knock you off your pedestal. A sense of urgency is required to win any part of the game.

Dr. King also speaks of moralism: “In the process of gaining our rightful place, we must not be guilty of wrongful deeds.” It is essential that your business is conducted with transparency, discipline and the highest ethical standards.

“In a sense we've come to our nation's capital to cash a check … a promissory note to which every American was to fall heir,” he advised. Corporations in America cannot afford to default on any commitments to their stakeholders, who will not tolerate a bad check, a check that has come back marked "insufficient funds."

Dr. King was a philosopher. As business is both a journey and a destination, he noted that this unique moment in in1963 was "not an end but a beginning." For growth companies on the track of continuous improvement, that should be a mantra. As we look back 50 years, we know that dreams can become reality...if you will it -- and act on it.